Zalando: launches takeover bid on About You

(CercleFinance.com) - Zalando announced on Monday that it had launched its takeover bid on About You, an acquisition that the German online apparel group officially announced last month.


The price of this offer - which is due to close on 17 February and is not subject to any minimum acceptance threshold - is E6.5 in cash, representing a premium of 107% over the weighted average share price over the three months preceding the transaction.

For the record, the Berlin-based online ready-to-wear retailer is already assured of an 80% stake in its target, since About You's main shareholders - the Otto family, the company's founders and senior executives - have all committed to tender their shares to the offer.


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